How to use Image field caption with colorbox?

I equally can't find a way to do this.

It looks like it's either one uses this formatter or use Colorbox and the two will not work together.

It looks like old patches managed to solve this issue for outdated versions → of this module. It would be great to have them ported to the current version (what unfortunately I don't have the knowledge to do).

This has been fixed in version 4.0.0-beta1. The caption and caption_format are now field properties, so they are available as tokens.